Barrick Gold Corp (NYSE:GOLD) is Euro Pacific Asset Management LLC’s Largest Position

Euro Pacific Asset Management LLC lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,848,230 shares of the gold and copper producer’s stock after selling 4,081 shares during the period. Barrick Gold comprises about 7.1% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its largest position. Euro Pacific Asset Management LLC owned approximately 0.11% of Barrick Gold worth $33,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Addenda Capital Inc. lifted its stake in Barrick Gold by 88.1% during the fourth quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock worth $56,176,000 after purchasing an additional 1,454,220 shares during the last quarter. Cheyne Capital Management UK LLP bought a new stake in shares of Barrick Gold during the 3rd quarter valued at about $2,910,000. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Barrick Gold during the fourth quarter worth about $1,331,000. DAVENPORT & Co LLC lifted its holdings in Barrick Gold by 17.9% in the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock worth $1,332,000 after acquiring an additional 11,166 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in Barrick Gold by 204.2% in the fourth quarter. Gateway Investment Advisers LLC now owns 249,017 shares of the gold and copper producer’s stock valued at $4,505,000 after acquiring an additional 167,145 shares during the period. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Price Performance

Shares of Barrick Gold stock traded up $0.27 during trading on Thursday, hitting $16.97. The stock had a trading volume of 10,974,175 shares, compared to its average volume of 22,562,992. The business has a fifty day moving average of $15.82 and a two-hundred day moving average of $16.20. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $20.75. The firm has a market cap of $29.79 billion, a P/E ratio of 23.19, a PEG ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same period in the prior year, the company earned $0.13 EPS. On average, sell-side analysts expect that Barrick Gold Corp will post 0.91 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.74%. Barrick Gold’s dividend payout ratio (DPR) is 55.56%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOLD. Jefferies Financial Group assumed coverage on Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target on the stock. Scotiabank dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. CIBC lowered their price target on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, TD Securities cut their price objective on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.18.

Barrick Gold Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.